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The Venture Codex

Overview

Venture capital firm focusing on startups in incumbent-heavy industries.

Founded

2018

Deals ยท 12mo

8

Stage focus

Seed
Series A

Geographic focus

United States

Sector focus

Financial Services
Venture Capital

Investment portfolio

42rounds
NAMEDATESIZE
Luzern Risk
Sep 2026Participated
$45 MSeries B
Antora Energy
Jul 2026Participated
$550 MSeries C
TerraFirma
Jul 2026Participated
$100 MSeries A
Foundation Alloy
Jun 2026Participated
$22 MSeries A
Neion Bio
Jun 2026Participated
$23 MSeries A
TrueMed
Dec 2025Participated
$34 MSeries A
Voya Energy
Nov 2025Participated
$13 MSeed
Emerald AI
Nov 2025Participated
$18 MSeed
Synfini
Jul 2025Participated
$9 MOther Equity
Base Power
Apr 2025Participated
$200 MSeries B
Harbor
Sep 2024Led
$7 MSeed
GreenLite Technologies
Sep 2024Participated
$29 MSeries A
Luzern Risk
Sep 2026Participated
$45 MSeries B
Antora Energy
Jul 2026Participated
$550 MSeries C
TerraFirma
Jul 2026Participated
$100 MSeries A
Foundation Alloy
Jun 2026Participated
$22 MSeries A
Neion Bio
Jun 2026Participated
$23 MSeries A
TrueMed
Dec 2025Participated
$34 MSeries A
Voya Energy
Nov 2025Participated
$13 MSeed
Emerald AI
Nov 2025Participated
$18 MSeed
Synfini
Jul 2025Participated
$9 MOther Equity
Base Power
Apr 2025Participated
$200 MSeries B
Harbor
Sep 2024Led
$7 MSeed
GreenLite Technologies
Sep 2024Participated
$29 MSeries A
42
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Insights

Time horizon

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Deal Distribution

Trust Ventures: 42 funding rounds are recorded in the selected participation categories.All available history.
Trust Ventures: 42 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed67
Series A014
Series B22
Series C+01
Other Equity64

Monthly Deal Activity

Trust Ventures: 42 deals are recorded across 136 months.All available history.
Trust Ventures: 42 deals are recorded across 136 months. All available history
MonthDeals
Jul '151
Aug '150
Sep '150
Oct '150
Nov '150
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '181
Nov '181
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '191
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '201
Sep '201
Oct '200
Nov '200
Dec '202
Jan '210
Feb '210
Mar '211
Apr '210
May '211
Jun '211
Jul '210
Aug '210
Sep '210
Oct '211
Nov '210
Dec '211
Jan '221
Feb '221
Mar '222
Apr '220
May '220
Jun '221
Jul '220
Aug '220
Sep '220
Oct '221
Nov '220
Dec '222
Jan '231
Feb '230
Mar '231
Apr '230
May '231
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '231
Dec '230
Jan '240
Feb '241
Mar '240
Apr '241
May '241
Jun '241
Jul '240
Aug '240
Sep '242
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '251
May '250
Jun '250
Jul '251
Aug '250
Sep '250
Oct '250
Nov '252
Dec '251
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '262
Jul '262
Aug '260
Sep '261
Oct '260

Sector Breakdown

Trust Ventures: Health & Life Sciences is the largest displayed sector by deal count (16 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Trust Ventures: Health & Life Sciences is the largest displayed sector by deal count (16 deals). All available history
SectorDeals
Health & Life Sciences16
Fintech14
Real Estate & Construction7
Consumer & Lifestyle6
AI & Machine Learning6
Clean Energy & Sustainability5
Hardware & Robotics4
E-Commerce & Retail3
Space & Frontier Tech3
Manufacturing3
Developer Tools3
Enterprise Software2
Social & Community Platforms2
Education & Workforce1
Government & Defense1
Cybersecurity & Privacy1
Data, Analytics & IT1
Transportation & Logistics1
Networks, Cloud & Communication1
Crypto & Blockchain1
Professional Services1

Deal Size Distribution

Trust Ventures: 42 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Trust Ventures: 42 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M7
$5M-$10M12
$10M-$25M11
$25M-$50M6
$50M-$100M3
$100M-$250M2
$250M-$500M0
$500M-$1B1
$1B+0

Deals By Geography

Trust Ventures: United States has the largest recorded deal count among the displayed regions (41 deals).All available history.

Top 2 of 2 regions; European countries are grouped as Europe.

Trust Ventures: United States has the largest recorded deal count among the displayed regions (41 deals). All available history
RegionDeals
United States41
Israel1
Trust Ventures: 20 co-investors are shown, with Accomplice sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

Trust Ventures: Led accounts for 33% and participating for 67% of round participation.All available history.
Trust Ventures: Led accounts for 33% and participating for 67% of round participation. All available history
CategoryDeals (count)Share (%)
Led1433%
Participating2867%
Trust Ventures: Single-lead accounts for 64% and co-led for 36% of lead dynamics.All available history.
Trust Ventures: Single-lead accounts for 64% and co-led for 36% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead964%
Co-led536%

Team

Brian Tochman

Co-founder and General Partner

Christopher Ballard

Venture Partner

Laszlo Korsos

Venture Partner

Salen Churi

Co-Founder and General Partner

Zach Ware

Venture Partner